Ryder System (R) Stock Rating Reaffirmed by Stifel Nicolaus
Stifel Nicolaus reaffirmed their hold rating on shares of Ryder System (NYSE:R) in a report published on Thursday morning. They currently have a $86.00 price objective on the transportation company’s stock.
A number of other brokerages have also recently commented on R. Zacks Investment Research raised Ryder System from a hold rating to a buy rating and set a $100.00 price target on the stock in a research note on Monday, January 15th. ValuEngine cut Ryder System from a buy rating to a hold rating in a research note on Monday, October 2nd. Robert W. Baird reissued an outperform rating and set a $98.00 target price (up from $84.00) on shares of Ryder System in a research note on Monday, October 2nd. JPMorgan Chase & Co. boosted their target price on Ryder System from $69.00 to $82.00 and gave the company a neutral rating in a research note on Thursday, October 12th. Finally, Aegis reissued a buy rating and set a $91.00 target price (up from $84.00) on shares of Ryder System in a research note on Tuesday, October 10th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ryder System presently has an average rating of Buy and a consensus price target of $88.71.
Shares of Ryder System (R) traded down $0.09 during trading on Thursday, reaching $88.82. The company’s stock had a trading volume of 741,617 shares, compared to its average volume of 319,471. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.39. The stock has a market cap of $4,702.84, a PE ratio of 24.07, a P/E/G ratio of 1.05 and a beta of 1.52. Ryder System has a 1-year low of $62.52 and a 1-year high of $90.02.
Ryder System announced that its board has authorized a stock buyback plan on Thursday, December 14th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Robert D. Fatovic sold 17,755 shares of Ryder System stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $82.44, for a total transaction of $1,463,722.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Karen M. Jones sold 4,790 shares of Ryder System stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $81.78, for a total value of $391,726.20. The disclosure for this sale can be found here. Insiders have sold 63,633 shares of company stock worth $5,174,795 over the last 90 days. 1.95% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. BlueMountain Capital Management LLC bought a new stake in Ryder System in the second quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ryder System by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock worth $141,000 after acquiring an additional 156 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in Ryder System by 94.7% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock worth $183,000 after acquiring an additional 1,240 shares in the last quarter. Petrus Trust Company LTA bought a new stake in Ryder System in the second quarter worth $214,000. Finally, King Luther Capital Management Corp bought a new stake in Ryder System in the third quarter worth $221,000. 89.35% of the stock is currently owned by institutional investors and hedge funds.
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Ryder System Company Profile
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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